Slam Raises $168,000 IN Flow -Through Funding
TSXV: SXL
SLAM RAISES $168,000 IN FLOW -THROUGH
FUNDING
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
For Immediate Release December 18, 2024
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (TSXV: SXL) (“SLAM” or the “ Company”)
announces closing of its non -brokered flow-through private placement announced November 28, 2024.
In connection with the private placement, the Company has issued 3,733,333 Flow Through Units (“FT
Units”) at a price of $0.045 per FT Unit for gross proceeds of $168,000. Each FT Unit will be comprised
of one common share of the Company issued on a “flow -through” basis and one -half common share
purchase warrant (with two such half common share purchase warrants being each a “Warrant”) issued on
a “non-flow-through” basis. Each Warrant will entitle the holder thereof to acquire one non-flow-through
common share at a price of $0.05 for a period of 24 months from the date of closing.
The FT Units are subject to a four-month and one day hold period that expires on April 19, 2025.
Proceeds received from the FT Units will be used for exploration activities on SLAM’s Goodwin copper-
nickel critical element project in New Brunswick.
Insider Participation: One Company insider participated in the Private Placement and subscribed for a
total of 300,000 FT Units . The participation by such insider is a “related -party transaction” within the
meaning of Multilateral Instrument 61 -101 - Protection of Minority Security Holders in Special
Transactions (“MI 61 -101”). The Company has relied on exemptions from the formal valuation and
minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI
61-101 in respect of related party participation in the placement as neither the fair market value (as
determined under MI 61- 101) of the subject matter of, nor the fair market value of the consideration for,
the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market
capitalization (as determined under MI 61-101).
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
Purchase Agreement with Gravel Developments Inc.
SLAM is pleased to also announce it has entered into an arm’s length purchase agreement with
Gravel Developments Inc. (the “Vendor”) dated November 25, 2024, to acquire a 100% interest
in one (1) mineral claim (tenure) with 129 units (the “Property”) located in northwestern New
Brunswick.
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SLAM can earn a 100% interest in and to the Property by making the following common share
(the “Shares”) and Share Purchase Warrant (the “Warrants”) issuances on closing:
Due Date Common Share and Warrant Payments
On Closing 2,000,000 Shares
On Closing 1,000,000 Warrant. Each Warrant will entitle the Vendor to acquire
one Share at a price of $0.05 for a period of 24 months after the
closing.
All Share Issuances will be subject to a 4 -month hold period in accordance with TSX Venture
Exchange regulations.
Abo
ut SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a substantial
portfolio of mineral claim holdings in the mineral- rich province of New Brunswick. The Company
recently completed three diamond drill holes on the Goodwin copper -nickel project in the BMC of New
Brunswick. Highlights include a 64.90- meter core interval grading 2.14% copper equivalent in hole
GW24-02. The Company has reported an additional 12 holes drilled in a follow -up program currently in
progress at Goodwin. Assays are pending on holes GW24-08 to GW24-15.
SLAM has discovered multiple gold veins on its wholly owned Menneval gold project. The Company has
reported gold-bearing core intervals, including 162.5 g/t gold over 0.2 meters and 56.90 g/t gold over 0.5
meters (news releases dated December 13, 2021, and November 22, 2022). Additionally, the Company
reported quartz float grading up to 39.2 g/t gold on its Jake Lee project, located near the Clarence Stream
gold deposit, where Galway Metals Inc. is working on a 2.3- million-ounce gold deposit in southern New
Brunswick.
SLAM also owns the Mine Road copper -zinc-silver project, adjacent to the former producing Heath
Steele Mines property in the BMC. Previous workers have reported successful diamond drill holes at
Mine Road, including IL2014-003, which intersected a 9-meter core interval grading 14.51% zinc, 5.86%
lead, 0.67% copper, and 139.9 g/t silver in the volcanogenic massive sulphide Railroad Zone (Doe Run
Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877). The
Railroad Zone is located 7,000 meters east of the 20- million-tonne former producing Heath Steele B
Zone.
Slam is a project generator and has received significant cash and share payments over the past year. The
Company holds NSR royalties and expects additional cash and share payments from the Wedge copper -
zinc project and the Ramsay, Reserve Creek, and Opikeigen gold projects.
To view SLAM’s corporate presentation, click SXL -Presentation. Additional information is available on
SLAM’s website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.
Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a
qualified person as defined by National Instrument 43- 101, and has approved the contents of this news
release.
Certain information in this press release may constitute forward -looking information, including
statements regarding mineral resources and the Company’s plans with respect to the exploration and
development of its properties . This information is based on current expectations that are subject to
significant risks and uncertainties that are difficult to predict. Actual results might differ materially from
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results suggested in any forward -looking statements. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could differ from those reflected
in the forward looking-statements unless and until required by securities laws applicable to the Company.
There are a number of risk factors that could cause future results to differ materially from those
described herein. Information identifying risks and uncertainties is contained in the Company's filings
with the Canadian securities regulators, which filings are available at www.sedarplus.ca.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected] SEDAR+: 00012459